Policies and Procedures on Anti-Bribery & Anti-Corruption Policy (1) Policy Statement iFAST Malaysia Sdn Bhd, iFAST Capital Sdn Bhd and iFAST Service Centre Sdn Bhd (collectively referred as “iFAST" or “Company”) firmly supports the national anti-bribery and anti-corruption effort by establishing and upholding good corporate governance and continuously inculcating good ethical business practices among its directors, employees, service providers and business partners. In line with this commitment, iFAST has developed its Anti-Bribery & Anti-Corruption Policy (the “Policy”). All members of the Board of Directors, employees and related parties must uphold the highest standard of integrity and accountability in discharging their duties and to ensure that all activities, offer or services are conducted in compliance with this Policy and all other applicable legal and regulatory requirement on anti-bribery and anti-corruption. iFAST also expects its partners, contractors, sub-contractors, vendors, suppliers, service providers and others performing work or services for or on behalf of the Company, to comply with this Policy when performing such work or services. (2) Definitions The following definitions are included in this Policy. Bribery Bribery is defined as any action which would be considered as an offence of giving or receiving ‘gratification’ under the Malaysian Anti-Corruption Commission Act 2009, as amended from time to time (“MACCA”). In practice, this means offering, giving, receiving or soliciting something of value in an attempt to illicitly influence the decisions or actions of a person, in a position of trust within an organisation. Gratification Means (a) money, donation, gift, loan, fee, reward, valuable security, property or interest in property being property of any description whether movable or immovable, financial benefit, or any other similar advantage; (b) any office, dignity, employment, contract of employment or services, and agreement to give employment or render services in any capacity; (c) any payment, release, discharge or liquidation of any loan, obligation or other liability, whether in whole or in part; (d) any valuable consideration of any kind, any discount, commission, rebate, bonus, deduction or percentage; (e) any forbearance to demand any money or money’s worth or valuable thing; (f) any other service or favour of any description, including protection from any penalty or disability incurred or apprehended or from any action or proceedings of a disciplinary, civil or criminal nature, whether or not already instituted, and including the exercise or the forbearance from the exercise of any right or any official power or duty; and (g) any offer, undertaking or promise, whether conditional or unconditional, of any gratification within the meaning of any of the preceding paragraphs (a) to (f). Board Means the Board of Directors of the Company and which shall include all independent and non-independent directors, executive and non-executive directors of iFAST. The areas covered under this Policy are as follows:
Policies and Procedures on Anti-Bribery & Anti-Corruption Policy
Jul 06, 2023
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